Synthomer selling Czech acrylate monomers business to Mutares

London – Synthomer has agreed to sell its Czech-based acrylate monomers business to German investment firm Mutares SE & Co. KGaA as part of a strategy to streamline operations and focus on higher-margin speciality chemicals.

Announcing the deal 20 June, the UK chemicals group said it will divest Synthomer AS, the operating company for its ‘acrylate monomers’ business in Sokolov, Czech Republic, to Mutares, which specialises in companies undergoing transition.

The business is a supplier of acrylic acid and related monomers to the European merchant market and employs around 300 people.

The Sokolov site also supplies acrylic monomers to other Synthomer operations and manufactures acrylic dispersions on the group's behalf, with those supply arrangements set to continue under the new ownership.

Synthomer said the business operates in “highly cyclical markets” and is “one of the more capital-intensive parts of the group's portfolio,” requiring average annual capital expenditure of around €5 million.

The business was identified as non-core during a strategic review launched in October 2022 and is Synthomer's only remaining upstream asset.

According to Synthomer, the disposal “will remove a cyclical and capital-intensive base chemicals business from the group, improving profitability and cash generation, and further transitioning the simplified portfolio towards a speciality focus.”

For the year ended 31 Dec 2025, the business generated external sales of €68 million and recorded standalone adjusted loss (EBITDA) of €10 million.

Trading improved to break even during the first four months of 2026, compared with a €3 million loss in the same period of 2025.

Synthomer attributed the gains to “more favourable short-term market dynamics since the start of the Iran conflict and cost reductions.”

The transaction is expected to complete at the end of the third quarter of 2026, subject to customary closing conditions.

Mutares described the acquisition as a "strategic platform investment" for its Chemicals & Materials segment and said it saw "substantial operational and commercial optimisation potential and a clear path towards profitable growth."